Tips for Obtaining Credit Abroad

Tips for Obtaining Credit Abroad

Obtaining a credit whose amount will vary between a few thousand and more than ten thousand euros, this is what allows a credit abroad. Its main advantage is that it is accessible to all profiles, in other words: people included in the payment incident file or who are already repaying drafts from a previous loan can access it. Another interesting news is that it is not essential to leave France to subscribe to such a credit. TAKING OUT A LOAN ABROAD IS POSSIBLE WITHOUT TRAVELLING! You can move physically by leaving the French borders. In this case, you go to a bank branch and fill out the available forms. The other option is to stay at home and use the internet to visit the site of a foreign bank and also fill in the forms. A final option is possible: it consists of going to an agency of a foreign bank established in France. A lot of information can be obtained at the counter. READ REVIEWS FROM PREVIOUS USERS OF THE SERVICE To apply for credit abroad , the first step is to simulate the credit. It is possible to find several offers on the web. As indicated above, this type of credit can be obtained even without a payslip. It can also be obtained by French workers living outside the borders of their country. The second step before taking out a loan abroad is to read the opinions of consumers who have already used this option. Don’t take everything written at face value. See it as a trend that it may be interesting to follow… or not! WATCH THE RATES A credit abroad can be obtained from a borrowing rate close to 6%. The Global Effective Annual Rate must be examined calmly. The APR is different from the debit rate, but the two can, at the time of the credit, have the same proportion in terms of percentage. But unlike the borrowing rate which is most often fixed, the APR can vary according to: the amount borrowed, the duration of the repayment, the type of file presented by the applicant. Don’t forget that this is a mortgage loan: if you do not repay, you can lose the real estate used to secure your loan.

The non-reimbursement of a loan for a certain time leads to the registration of the household with the National Bank of Belgium or BNB. If you are in this situation, it will be difficult for you to apply for a new loan, unless you adopt one of the following solutions.

A FEW WORDS ON FILING AT THE BNB

The Central Individual Credit Register, a branch of the BNB, registers each loan, regardless of the payment institution requested. It will be immediately informed by the financial institution concerned if the customer fails to repay his monthly payments for 2 months or more. It will register the name of the latter in the blacklist of individuals on file. The person concerned will therefore find it difficult to obtain a loan given that the other organizations in the country already know that he is a “bad payer”. Fortunately, there are solutions for applying for a National Bank loan .

HOW TO HAVE A LOAN WHILE BEING STUCK?

The registration of a person at the BNB can last up to 10 years. However, it is possible to interrupt it at any time by regularizing its situation with the National Bank of Belgium. All you have to do is repay the entire loan. The banking ban is immediately lifted, once the problem has been resolved.

If you don’t have the money to repay the bank, you can always bank on the mortgage. In practice, you can apply for a loan by offering your apartment or other real estate as collateral . If your application is accepted, you will receive the amount requested, even if you are still registered with the BNB. Of course, you have to expect to pay the notary fees.

It is also possible to contact a credit institution for stuck persons. This alternative still requires some precautions. Concretely, you must rely on an experienced broker in the field to avoid scams. He will carefully analyze your financial situation before proposing a solution adapted to your needs.

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